Registration number: NI659149

WJR Car Sales Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 9

WJR Car Sales Limited

(Registration number: NI659149)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	180	1,468
Current assets
Stocks	5	108,472	128,176
Debtors	6	60,500	60,500
Cash at bank and in hand		53,010	50,495
		221,982	239,171
Creditors: Amounts falling due within one year	7	(41,600)	(43,248)
Net current assets		180,382	195,923
Total assets less current liabilities		180,562	197,391
Creditors: Amounts falling due after more than one year	7	(2,706)	(13,095)
Net assets		177,856	184,296
Capital and reserves
Called up share capital	8	100	100
Retained earnings		177,756	184,196
Shareholders' funds		177,856	184,296

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 September 2025
 

......................................... Mr W J Ramsey Director

WJR Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
106 Shankbridge Road
Kells
Ballymena
BT42 3NJ

These financial statements were authorised for issue by the director on 6 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of these financial statements is pounds sterling and all amounts have been rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.The director has assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The director believes that the company will continue as a going concern and be able to realise its assets and discharge its liabilties in the normal course of business.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

WJR Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Other tangible fixed assets	20%- 50% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

WJR Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

WJR Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

Classification
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the related contracttual arrangements. An equity arrangement is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction.

The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised by transaction value and subsequently measured at their settlement value.

 Impairment
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cashflows, discounted at the financial asset's original effective interest rate. For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

WJR Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	7,276	7,276
At 31 March 2025	7,276	7,276
Depreciation
At 1 April 2024	5,808	5,808
Charge for the year	1,288	1,288
At 31 March 2025	7,096	7,096
Carrying amount
At 31 March 2025	180	180
At 31 March 2024	1,468	1,468

5

Stocks

	2025 £	2024 £
Other inventories	108,472	128,176

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		500	500
Amounts owed by related parties	10	60,000	60,000
		60,500	60,500

WJR Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	10,369	10,154
Trade creditors		238	260
Taxation and social security		2,942	2,785
Accruals and deferred income		848	1,002
Other creditors		27,203	29,047
		41,600	43,248

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	2,706	13,095

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Share Capital of £1 each	100	100	100	100

WJR Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,706	13,095

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,369	10,154

Bank borrowings

Bank Loan is denominated in sterling with a nominal interest rate of 2.5%, and the final instalment is due on 18 July 2026. The carrying amount at year end is £Nil (2024 - £23,249).

10	Related party transactions

Key management personnel

The key management personnel is deemed to be the director.

Key management compensation

	2025 £	2024 £
Salaries and other short term employee benefits	9,600	9,600

WJR Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Loans to related parties

2025	Entities with joint control or significant influence £	Total £
At start of period	60,000	60,000
At end of period	60,000	60,000

2024	Entities with joint control or significant influence £	Total £
Advanced	60,000	60,000
At end of period	60,000	60,000

Terms of loans to related parties

Loans to related parties are denominated in sterling, interest free and repayable on demand.
 

Loans from related parties

2025	Key management £	Total £
At start of period	28,366	28,366
Repaid	(1,752)	(1,752)
At end of period	26,614	26,614

2024	Key management £	Total £
At start of period	28,934	28,934
Repaid	(568)	(568)
At end of period	28,366	28,366

Terms of loans from related parties

Loans from key management are denominated in sterling, interest free and repayable on demand.
 

11	Parent and ultimate parent undertaking

The ultimate controlling party is WJ Ramsey.